Robex Resources Secures $130 Million Funding for Guinea Gold Project

Robex Resources has successfully entered a US$130 million agreement with Sprott Resource Lending to fund the Kiniero Gold Project in Guinea. This funding secures crucial financial support while enabling plans for an Australian Securities Exchange listing. The deal features no mandatory hedging or royalties and includes bonus shares as lender compensation.

Robex Resources Inc. has announced the successful execution of a syndicated facility agreement valued at US$130 million with Sprott Resource Lending. This agreement is instrumental in financing the construction of the Kiniero Gold Project located in Guinea. It represents a noteworthy achievement for Robex as they move forward with project advancement and prepare for a potential listing of their shares on the Australian Securities Exchange.

The agreement features several advantageous terms, including the elimination of mandatory gold hedging and royalties. Additionally, the arrangement allows for the issuance of bonus shares as supplementary compensation for the lender, which enhances the financial appeal of this partnership. Robex is actively focused on expanding its gold production operations in Guinea, reaffirming its commitment to the mining industry.

Robex Resources has encountered a year-to-date price performance increase of 15.32%, alongside an average trading volume of 40,239 shares. The company currently has a technical sentiment consensus rating of “Sell” and a market capitalization reaching C$388.9 million, reflecting its status in the stock market.

In summary, Robex Resources has secured significant funding through a $130 million agreement with Sprott Resource Lending to advance its Kiniero Gold Project in Guinea. The favorable terms of the agreement, alongside the company’s growth prospects in mining, underscore its strategic initiatives for expansion. As the company prepares for a potential listing in Australia, its market performance continues to be a key consideration for investors.

Original Source: www.tipranks.com